Is Forex Legal in Myanmar?

The legality of forex trading in Myanmar operates under strict government control and regulation. The Central Bank of Myanmar (CBM) maintains tight oversight of all foreign exchange activities within the country, with unauthorized forex trading considered illegal (1). While the CBM has established an online forex trading platform for authorized dealer banks, retail forex trading by individual investors remains heavily restricted and is not officially permitted by the Myanmar government.

Myanmar's forex regulatory landscape has evolved significantly, particularly following political changes in 2021. The Central Bank has issued various directives to manage foreign exchange transactions, including Directive No. 7/2022 which relaxed certain forex regulations for specific entities such as Myanmar Investment Commission companies, Special Economic Zone operators, and international organizations (2). However, these relaxations primarily apply to institutional and commercial transactions rather than individual retail forex trading.

"The Myanmar government does not permit retail Forex trading. The Central Bank of Myanmar (CBM) strictly controls foreign exchange activities, and unauthorized Forex trading is considered illegal."

Despite the restrictive official stance, Myanmar has a notably active underground forex trading market, which necessitates careful verification of broker legitimacy for those seeking to engage in forex activities. The government has implemented numerous regulations specifically aimed at cracking down on these unofficial markets and preventing money laundering activities. Additionally, any forex gains that do occur are subject to Myanmar's progressive personal income tax rates of 25%, and the country imposes various limitations on money transfers related to foreign exchange trading.

Source:
https://issuu.com/exness_blog/docs/exness.docx/s/66046080
https://www.dfdl.com/insights/legal-and-tax-updates/myanmar-further-relaxes-forex-regulations/

Last updated: 01-06-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.